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Jul 8, 2024 · Corbin Davenport / Paramount+. Paramount Global has agreed to merge with Skydance Media. This deal will "fortify" the Paramount+ and Pluto TV streaming services with "best-in-class" technology and an increased cashflow. Both companies expect the merger to be completed by mid 2025. Despite its strong presence in the media industry, Paramount's ...
- Andrew Heinzman
- Editor
Aug 26, 2024 · Late last night, Paramount and Skydance officially announced a deal to merge. With this deal, Skydance will buy the Redstone family’s majority control of Paramount. This comes as the final bidder, Edgar Bronfman Jr., has reportedly dropped out and will not make a bid for Paramount a day before the deadline, according to a report from the New York Times .
Jul 8, 2024 · The merged company, led by Skydance’s David Ellison as chairman and CEO and new president Jeff Shell, ex-CEO of NBCUniversal, plans to “enhance and reinvigorate marquee Paramount and CBS brands” according to the announcement. This includes commitment to Paramount’s streaming services Paramount+ and Pluto TV, whose futures had looked ...
Skydance Investor Group, comprised of the Ellison Family and RedBird Capital Partners, to invest $2.4 billion to acquire National Amusements for cash and $4.5 billion for the stock/cash merger consideration to be paid for publicly traded Class A shares and Class B shares, as well as $1.5 billion of primary capital to be added to Paramount’s balance sheet
Jul 2, 2024 · Paramount and Skydance will again merge, for real this time, after talks had previously collapsed. ... CBS, Paramount+, Pluto TV, and cable channels like Nickelodeon and MTV, as well as BET (for ...
- Brian Welk
Paramount has not revealed monthly active users on Pluto TV in some time, but it did say that the streamer combined with Paramount+ to boost global viewing hours by 27% in the final quarter of 2023.
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After first coming to a merger deal with Skydance, Paramount and Skydance canceled the proposed merger on June 11 due to unsatisfactory conversations. Following a break in the talks, Skydance was able to reach a preliminary agreement on July 2, 2024, to purchase National Amusements and combine it with Paramount Global to establish what is now known as "New Paramount". [ 6 ]